Which body of Lloyd's must provide capital to support the syndicate's underwriters?

The correct choice is that members, including large insurance groups, must provide capital to support the syndicate's underwriters. In Lloyd's of London, members are the entities or individuals that provide the financial backing necessary for the syndicates to operate. They contribute capital, which is essential because it enables the syndicates to accept insurance risks.

These members can take various forms, including wealthy individuals (known as "Names") and large insurance companies that are part of the syndicate structure. This capital is crucial because it serves as a buffer against potential losses stemming from the underwriting activities of the syndicate, ensuring that funds are available to pay claims when they arise.

Understanding the roles of other entities in Lloyd's is important, but it does not pertain to this specific function of providing capital. Managing agents are responsible for the day-to-day operations and management of the syndicates, but they do not provide capital themselves. The Council of Lloyd's has governance and regulatory responsibilities, including assigning syndicate numbers, but they do not directly provide capital either. Cover holders are delegated authority from the syndicates to issue policies and handle claims, but they are not involved in the direct capital contributions needed for underwriting.

Thus, the primary function of members as capital providers